Dairy Market: Barrel cheese prices top $2

Cash cheese prices shot higher the second week of October, though traders are skeptical. FC Stone stated in its Oct. 10 Early Morning Update, “Logic and reason do not drive these markets. Greed and fear do.”


Block Cheddar climbed to $2.12 per pound last Thursday but closed Friday at $2.10, up 10.75 cents on the week and 49 cents above a year ago.


The barrels finished at $2.0225, up 23.25 cents on the week and 66.25 cents above a year ago. Last time barrels topped $2 was Nov. 10, 2014, and that was at $2.12 per pound. The spread narrowed to 7.75 cents.